Ester Industries Ltd.

BSE: ESTER500136ISIN INE778B01029

Industrials
Packaging
BSE Industrials

Share price

₹88.70+1.56 (+1.79%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹121.75
52W low: ₹68.80
Off 52W high: -27.15%
1M return: -4.98%
3M return: +0.50%
6M return: -10.02%
1Y return: -20.05%
20D avg volume: 3,383
50 DMA: ₹90.79
200 DMA: ₹92.46

Key ratios Consolidated

Market cap: ₹925.10 Cr
Current price: ₹88.70
52W high / low: ₹121.75 / ₹68.80
Face value: ₹5.00
P/E: 42.20
P/B: 1.04
EPS (TTM): ₹2.10
Book value / share: ₹85.11
ROE: —
ROCE: 3.20%
Operating margin: —
Net margin: —
Debt / equity: 0.93
Net debt: ₹727.84 Cr
Interest cover: 0.63
Dividend yield: 0.28%
Dividend / share (TTM): ₹0.25
Payout: 11.90%
Cash conversion cycle: 86.8 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	443.76	432.16	343.82	338.98	354.19	338.20	319.26	345.58	331.16	286.15	276.73	267.76
	5.23	9.80	1.31	4.53	3.05	8.65	2.66	5.41	2.62	6.21	3.22	4.62
	448.99	441.96	345.13	343.51	357.24	346.85	321.92	350.98	333.78	292.36	279.95	272.37
	438.41	417.97	335.41	355.89	373.74	350.46	315.34	319.63	327.05	309.01	306.47	322.35
	296.10	287.59	214.10	228.75	242.21	218.27	194.50	202.93	212.56	182.46	199.24	206.42
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	22.77	23.21	22.72	22.41	19.52	18.31	17.99	19.03	17.09	17.04	16.07	16.97
	17.19	17.09	16.21	15.99	17.23	15.48	15.66	16.44	18.46	16.76	17.98	17.92
	18.00	18.30	17.66	17.64	17.34	17.29	17.09	17.13	17.25	17.29	17.75	17.18
	91.66	81.72	77.91	71.93	78.27	85.73	68.69	62.99	70.70	66.48	60.64	70.57
	10.58	23.99	9.72	-12.38	-16.50	-3.61	6.58	31.35	6.74	-16.66	-26.52	-49.98
	-0.70	-0.46	-0.28	-0.29	-0.74	-0.20	-0.20	0.00	0.00	0.00	0.00	0.00
	9.87	23.53	9.44	-12.68	-17.23	-3.81	6.37	31.35	6.74	-16.66	-26.52	-49.98
	2.03	4.92	1.56	0.26	1.46	3.35	4.41	6.54	3.72	0.56	2.80	5.16
	7.84	18.62	7.87	-12.41	-15.78	-7.16	1.96	24.82	3.02	-16.10	-23.72	-44.82
	0.75	1.84	0.81	-1.27	-1.62	-0.74	0.21	2.64	0.32	-1.71	-2.83	-5.37
Key metrics
	45.06	58.92	43.31	20.95	17.34	28.96	39.12	64.92	42.45	17.39	9.21	-14.88
	10.20%	13.60%	12.60%	6.20%	4.90%	8.60%	12.30%	18.80%	12.80%	6.10%	3.30%	-5.60%
	1.80%	4.30%	2.30%	-3.70%	-4.50%	-2.10%	0.60%	7.20%	0.90%	-5.60%	-8.60%	-16.70%
	2.10%	—	2.00%	—	0.00%	—	1.80%	—	—	—	—	—
	25.30%	27.80%	7.70%	-1.90%	7.00%	18.20%	15.40%	29.10%	—	—	—	—
	149.70%	360.10%	301.50%	-150.00%	-622.50%	55.50%	108.30%	155.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,559	1,375	1,282	1,063	1,114	1,406
	20.87	17.53	16.90	27.02	12.42	8.80
	1,580	1,393	1,299	1,090	1,127	1,414
	1,548	1,415	1,271	1,225	1,103	1,228
	1,027	903.33	792.45	761.11	716.96	914.83
	0.00	0.00	0.00	—	—	33.91
	91.11	82.96	71.16	63.68	54.57	67.41
	66.48	64.91	67.33	70.36	36.34	24.88
	71.60	69.93	68.75	68.03	43.93	38.67
	323.22	313.84	268.86	268.56	254.22	216.38
	31.91	-22.77	28.01	-135.00	23.93	186.20
	-1.73	-1.51	-0.20	0.00	0.00	0.00
	30.16	-24.28	27.81	-135.00	23.93	186.20
	8.77	3.19	14.11	13.95	12.24	49.49
	21.92	-27.47	13.70	-121.05	136.90	136.71
	2.13	-2.82	1.46	-14.49	1.40	16.39
Key metrics
	168.24	110.56	163.89	3.39	104.20	249.75
	10.79%	8.00%	12.80%	0.30%	9.40%	17.80%
	1.41%	-2.00%	1.10%	-11.40%	12.30%	9.70%
	—	3.20%	7.70%	—	—	—
	14.85%	7.30%	20.60%	-4.50%	-20.70%	—
	470.83%	-300.50%	111.30%	-188.40%	0.10%	—
	—	27.10	81.19	—	—	—
	—	-3.22	8.19	—	—	—
	—	0.93	0.85	—	—	—
	—	727.84	637.62	—	—	—
	—	86.8	81.1	—	—	—
Balance sheet
	—	1,674	1,573	—	—	—
	—	606.30	505.28	—	—	—
	—	1.17	22.56	—	—	—
	—	184.94	170.34	—	—	—
	—	208.71	161.42	—	—	—
	—	51.14	44.84	—	—	—
	—	978.08	976.84	—	—	—
	—	66.53	47.04	—	—	—
	—	421.02	331.85	—	—	—
	—	729.01	660.18	—	—	—
	—	324.05	255.38	—	—	—
	—	404.96	404.80	—	—	—
	—	782.73	772.52	—	—	—
Cash flow
	—	88.54	112.19	—	—	—
	—	-116.43	-56.48	—	—	—
	—	6.49	-133.11	—	—	—
	—	61.44	31.00	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	360.11	339.21	256.06	250.06	260.00	279.01	258.03	274.72	298.08	239.63	215.85	203.84
	5.71	8.47	1.21	3.96	3.30	5.97	3.35	2.62	4.36	4.14	4.41	7.10
	365.81	347.68	257.27	254.02	263.31	284.98	261.37	277.34	302.45	243.77	220.26	210.94
	357.69	328.26	251.27	259.17	269.57	271.99	244.63	252.20	287.09	246.37	232.22	232.24
	250.71	231.51	169.02	169.46	184.72	181.02	154.07	167.69	209.00	159.37	148.83	156.41
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	19.60	19.79	19.52	19.12	16.49	15.40	15.27	16.41	14.51	14.30	13.79	14.56
	9.65	9.34	8.90	8.61	9.52	8.06	8.67	8.39	10.09	8.53	9.31	9.23
	10.83	11.24	10.67	10.88	10.78	10.90	10.76	10.74	10.88	11.00	11.45	10.87
	64.60	57.75	51.55	51.16	53.41	53.82	48.43	52.02	51.24	51.62	49.09	49.99
	8.12	19.42	6.00	-5.15	-6.27	12.98	16.74	25.15	15.36	-2.60	-11.96	-21.30
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	8.12	19.42	6.00	-5.15	-6.27	12.98	16.74	25.15	15.36	-2.60	-11.96	-21.30
	2.03	4.92	1.56	-0.26	1.46	3.35	4.41	6.54	3.72	0.56	2.80	5.16
	6.09	14.51	4.44	-4.89	-4.81	9.64	12.33	18.61	11.64	-2.04	-9.16	-16.13
	0.58	1.43	0.45	-0.50	-0.50	1.00	1.31	1.98	1.24	-0.22	-1.09	-1.93
Key metrics
	28.60	40.00	25.57	14.34	14.03	31.94	36.17	44.28	36.33	16.93	8.80	-1.20
	7.90%	11.80%	10.00%	5.70%	5.40%	11.40%	14.00%	16.10%	12.20%	7.10%	4.10%	-0.60%
	1.70%	4.30%	1.70%	-2.00%	-1.80%	3.50%	4.80%	6.80%	3.90%	-0.90%	-4.20%	-7.90%
	1.40%	—	1.30%	—	0.30%	—	2.30%	—	—	—	—	—
	38.50%	21.60%	-0.80%	-9.00%	-12.80%	16.40%	19.50%	34.80%	—	—	—	—
	226.60%	50.50%	-64.00%	-126.30%	-141.30%	572.50%	234.60%	215.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,205	1,045	1,070	855.39	1,077	1,406
	19.35	14.44	14.47	26.27	17.22	8.80
	1,225	1,060	1,085	881.66	1,095	1,414
	1,196	1,052	1,030	938.94	1,047	1,226
	820.70	704.22	690.13	605.03	666.71	914.83
	0.00	0.00	0.00	—	—	—
	78.03	70.53	60.49	54.80	51.39	66.81
	36.50	35.09	35.68	37.33	30.16	24.86
	43.62	43.23	43.38	42.80	39.02	38.56
	225.06	209.94	203.31	209.14	241.25	214.96
	28.39	7.56	54.64	-57.29	48.07	188.35
	0.00	0.00	0.00	—	—	—
	28.39	7.56	54.64	-57.29	48.07	188.35
	8.25	3.19	14.11	13.95	12.24	49.49
	20.15	4.37	40.53	-43.33	161.04	138.86
	1.96	0.45	4.31	-5.19	4.30	16.65
Key metrics
	108.51	85.88	133.70	22.84	117.25	251.77
	9.00%	8.20%	12.50%	2.70%	10.90%	17.90%
	1.67%	0.40%	3.80%	-5.10%	14.90%	9.90%
	—	3.80%	8.20%	—	—	—
	12.47%	-2.40%	25.10%	-20.60%	-23.30%	—
	-43.67%	-89.20%	193.50%	-126.90%	16.00%	—
	—	33.62	63.62	—	—	—
	—	12.08	1.96	—	—	—
	—	0.35	0.33	—	—	—
	—	332.88	277.78	—	—	—
	—	83.3	77.9	—	—	—
Balance sheet
	—	1,405	1,316	—	—	—
	—	471.83	398.32	—	—	—
	—	1.15	22.54	—	—	—
	—	126.35	132.96	—	—	—
	—	159.07	129.31	—	—	—
	—	37.94	19.92	—	—	—
	—	387.75	406.31	—	—	—
	—	47.08	33.71	—	—	—
	—	269.08	214.94	—	—	—
	—	334.03	300.32	—	—	—
	—	195.54	156.20	—	—	—
	—	138.49	144.12	—	—	—
	—	949.51	908.01	—	—	—
Cash flow
	—	52.81	79.57	—	—	—
	—	-104.85	-102.88	—	—	—
	—	30.64	-54.11	—	—	—
	—	19.19	15.95	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -1.01%
Sales CAGR 5Y: —
Profit CAGR 3Y: -69.95%
Profit CAGR 5Y: —
Sales YoY (TTM): +12.47%
Profit YoY (TTM): -43.67%

Consolidated

Sales CAGR 3Y: +7.27%
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +14.85%
Profit YoY (TTM): +470.83%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 62.31%

Holder	Type	Holding	Previous	Change
WILEMINA FINANCE CORP.	Promoter	47.29%	—	—
VETTEL INTERNATIONAL LTD	Public	7.75%	—	—
MOVI LTD	Promoter Group	7.39%	—	—
Arvind Singhania	Promoter	3.64%	—	—
RJ CORP LIMITED	Public	2.53%	—	—
MODI RUBBER LTD	Promoter Group	2.50%	—	—
Kamalesh Jayant Shah	Public	2.12%	—	—
KRISHANG VAIBHAV SHAH	Public	1.52%	—	—
Ayush Vardhan Singhania	Promoter Group	0.90%	—	—
FENTON INVESTMENTS PVT LTD	Promoter Group	0.47%	—	—
Jai Vardhan Singhania	Promoter Group	0.12%	—	—
Borodrill Commercial Company Private Limited	Promoter Group	0.00%	—	—
Citrus & Honey Apparels Private Limited	Promoter Group	0.00%	—	—
Possibility Edutech Private Limited	Promoter Group	0.00%	—	—
MMB Sales (India) Pvt Ltd	Promoter Group	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
EPL LIMITED	7,186	223.95	18.28	16.80%	+21.90% TTM	-4.65% TTM	+10.57%
AGI GREENPAC LIMITED	4,250	656.85	12.05	18.20%	+6.19% TTM	+0.21% TTM	-19.59%
Uflex Limited	4,198	581.30	6.15	8.00%	+10.36% TTM	+128.29% TTM	+8.24%
TCPL Packaging Limited	4,123	4,531.15	35.70	20.30%	+5.43% TTM	-13.56% TTM	+36.69%
JINDAL POLY FILMS LIMITED	3,059	698.60	-3.09	-17.10%	-58.49% TTM	-4,451.01% TTM	+24.89%
Polyplex Corporation Ltd.	2,883	918.30	10.61	1.00%	+9.55% TTM	+35.38% TTM	-2.79%
Xpro India Ltd.	2,588	1,102.75	74.18	3.40%	+12.17% TTM	+157.75% TTM	-0.55%
KNACK PACKAGING LIMITED	2,296	187.60	—	—	—	—	—
Mold-Tek Packaging Limited S	2,195	330.35	13.45	14.20%	+19.84% TTM	+20.42% TTM	-5.07%
Cosmo First Limited	2,094	797.55	9.57	10.80%	+41.30% TTM	+49.60% TTM	-9.65%
HUHTAMAKI INDIA LIMITED S	1,633	216.25	12.62	—	+11.70% TTM	+29.94% TTM	-12.47%
Arrow Greentech Limited	1,158	767.55	18.12	27.40%	+12.75% TTM	+18.91% TTM	+30.42%
Dhunseri Ventures Limited	949	270.95	4.96	-0.10%	-23.39% TTM	+32.93% TTM	-18.08%
Commercial Syn Bags Limited	937	232.20	32.80	18.20%	+12.22% TTM	+43.15% TTM	+50.78%
Ester Industries Ltd.	925	88.70	42.20	3.20%	+14.85% TTM	+470.83% TTM	-20.05%
Oricon Enterprises Ltd.	899	57.23	31.07	2.60%	-72.18% TTM	-79.84% TTM	-0.54%
Haldyn Glass Limited	708	131.75	23.89	11.90%	+18.93% TTM	+55.02% TTM	+37.35%
Hitech Corporation Limited	704	410.00	40.13	10.60%	+20.12% TTM	+79.08% TTM	+112.93%
Shree Rama Multi-tech Ltd. S	627	46.96	24.46	17.90%	+22.55% TTM	-54.52% TTM	-17.13%
Shri Jagdamba Polymers Ltd S	622	709.80	13.11	17.10%	-8.73% TTM	-7.89% TTM	-12.54%
SUBAM PAPERS LIMITED	617	224.50	—	5.30%	—	—	+52.20%
Kanpur Plastipack Limited	607	248.00	11.36	19.60%	+17.73% TTM	+117.32% TTM	+19.60%
Nahar Polyfilms Ltd.	583	237.10	6.91	10.50%	+7.93% TTM	+39.08% TTM	-24.60%
Pyramid Technoplast Limited S	545	148.10	17.38	12.90%	+19.00% TTM	+16.06% TTM	-8.01%
TPL Plastech Limited	521	66.78	17.29	23.50%	+25.92% TTM	+22.45% TTM	-5.25%

Filings & corporate actions

Recent announcements

Press Release on Un-Audited Financial Results of the Company for the quarter and half year ended 30th September 2026.4 Nov 2026 · Company Update / Press Release / Media Release
Ester Industries Limited has informed the Exchange about Investor Presentation.4 Nov 2026 · Company Update / Investor Presentation
Monitoring Agency Report for the quarter ended 30th September 2026.4 Nov 2026 · Company Update / Monitoring Agency Report
Outcome of Board Meeting3 Nov 2026 · Board Meeting / Outcome of Board Meeting
Outcome of Board Meeting held on 3rd November 2026 to consider and approve the Un-audited Financial Results for the quarter and half-year ended 30th September 2026.3 Nov 2026 · Result / Financial Results
Revised Schedule of Investor meet to discuss the financial position of the Company for the quarter and half year ended 30th September 2026.2 Nov 2026 · Company Update / Analyst / Investor Meet
Schedule of Investor meet to discuss the financial position of the Company for the quarter and half year ended 30th September 2026.2 Nov 2026 · Company Update / Analyst / Investor Meet
Ester Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/11/2026 ,inter alia, to consider and approve Un-audited Financial Results ....29 Oct 2026 · Board Meeting / Board Meeting
Newspaper Publication for Special Window for Transfer and Dematerialisation of Physical Securities.7 Oct 2026 · Company Update / Newspaper Publication
Certificate under Regulation 74(5) of SEBI (DP) Regulations, 20187 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Clarification on increase in Volume of Shares of the Company1 Oct 2026 · Company Update / General
The Exchange has sought clarification from Ester Industries Ltd on October 1, 2026, with reference to Movement in Volume.<BR><BR>The reply is awaited.1 Oct 2026 · Company Update / Clarification
Intimation of Closure of Trading Window for the quarter and half-year ending 30th September 2026.25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Renewal of Credit Rating25 Sep 2026 · Company Update / Credit Rating
E-Voting Results and Scrutinizer''s Report for the 40th Annual General Meeting held on 24th September 2026.24 Sep 2026 · AGM/EGM / AGM
Proceedings of Annual General Meeting held on September 24, 202624 Sep 2026 · AGM/EGM / AGM
Certificate under Regulation 74(5) of SEBI (DP) Regulations, 20189 Sep 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper Publication on Notice of the 40th AGM and E-Voting Information3 Sep 2026 · Company Update / Newspaper Publication
Weblink of Notice of 40th Annual General Meeting along with Annual Report for the Financial Year 2025-262 Sep 2026 · Company Update / General
Notice of AGM held on 24th September 20262 Sep 2026 · AGM/EGM / AGM
Annual Report for the Financial Year 2025-26.2 Sep 2026 · Others / Reg. 34 (1) Annual Report
Transcript of the Earnings Call held on 18th August 202624 Aug 2026 · Company Update / Earnings Call Transcript
Ayush Vardhan Singhania has informed the Exchange regarding Cancellation of earlier disclosure submitted on August 14th, 2026 under Regulation 10(5) in respect of acquisition under Regulation ....21 Aug 2026 · Insider Trading / SAST / Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011
Intimation of cancellation of proposed Inter-se transfer of shares amongst promoter and promoter group20 Aug 2026 · Company Update / General
Audio Recording of Earning Call for Investor and Analysts18 Aug 2026 · Company Update / General
The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....14 Aug 2026 · Insider Trading / SAST / Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011
Announcement under Regulation 30 - Intimation received under Regulation 10(1)(a) of SEBI (SAST) Regulations, 201114 Aug 2026 · Company Update / General
Monitoring Agency Report for the quarter ended 30th June 2026.13 Aug 2026 · Company Update / Monitoring Agency Report
Copy of Newspaper Advertisement with respect to Un-Audited Financial Results for the Quarter ended 30th June 2026.13 Aug 2026 · Company Update / Newspaper Publication
Ester Industries Limited has informed the Exchange about Investor Presentation.12 Aug 2026 · Company Update / Investor Presentation
Press release titled: "Ester Loop Infinite Technologies Private Limited (ELITe - Ester & Loop 50:50 JV Company) Secures Multi-Year LOI with Leading Global Sports Brand upto 15,000 MT per Year".12 Aug 2026 · Company Update / Press Release / Media Release
Press Release on Un-Audited Financial Results of the Company for the quarter ended 30th June 2026.12 Aug 2026 · Company Update / Press Release / Media Release
Schedule of Investor meet to discuss the financial position of the Company for the quarter ended 30th June 2026.12 Aug 2026 · Company Update / Analyst / Investor Meet
Record date for final dividend for Financial Year 2025-26 will be 17th September 2026.11 Aug 2026 · Corp. Action / Record Date
Outcome Of Board Meeting dated 11th August 202611 Aug 2026 · Board Meeting / Outcome of Board Meeting
Un-audited Financial Results for the Quarter ended 30th June 2026.11 Aug 2026 · Result / Financial Results
Certificate under Regulation 74(5) of SEBI (DP) Regulations, 201810 Aug 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper advertisement on Notice of transfer of equity shares of the Company to IEPF.8 Aug 2026 · Company Update / Newspaper Publication
Newspaper Publication for Special Window for Transfer and Dematerialisation of Physical Securities.5 Aug 2026 · Company Update / Newspaper Publication
Ester Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve Un-audited Financial Results ....5 Aug 2026 · Board Meeting / Board Meeting

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 0.2500	17 Sep 2026	17 Sep 2026	—
Final Dividend - Rs. - 0.6000	19 Sep 2025	19 Sep 2025	—

Board meetings

3 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results